Word: china
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Dates: during 2000-2009
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...carbon emissions and husbanding the planet's resources, although hammering out a united front among Asia's top industrialized nations for the Copenhagen climate conference in December is one of the professed goals. It's really a hardheaded, shrewd initiative to marry Japanese and South Korean high technology with China's manufacturing prowess, massive domestic market and bulging foreign-currency reserves - thus creating a formidable player in a postcrisis, low-carbon world...
America was caught off guard in the 1950s when the Soviet Union launched its first Sputnik satellite. It looks as if history may repeat itself, but this time the arena is more down to earth. In August, the leaders of Japan, China and South Korea will hold a trilateral summit to discuss how they can pool their resources and expertise to develop and commercialize emerging green technologies. Who knows what world-beating products and processes will result from a successful collaboration...
...Japan has already sped ahead of the U.S. in hybrid-car technology. China is emerging as a leader in electric cars, solar power and wind power. South Korea is not yet known for anything environmentally friendly, but that is about to change. The South Korean government is spending $31 billion to fund research in 27 green technologies, including non-silicon-based solar cells, biomass fuels and carbon collection, storage and processing. (See the top 10 green stories...
...contrast, East Asian economies have robust balance sheets, except for Japan. Unlike the U.S., China and South Korea do not need to print money to fund their stimulus packages. And their spending is geared toward the future rather than toward mopping up the excesses of the past, as the U.S. must do. Green projects account for 81% of South Korea's economic-stimulus programs and 38% of China's - the proportion in the U.S. is just...
...Will East Asia win the green race? The Europeans, who are leading the way on carbon-trading, are very much in the game, particularly in recycling and solar and wind power. Japan, China and South Korea also have some delicate issues to settle. One of the most contentious is likely to be intellectual-property protection, which is not particularly strong in China. And the U.S. may still be a contender. Sputnik sparked an extraordinary American effort that culminated in Neil Armstrong's 1969 moon walk, which sealed the U.S.'s supremacy in space. Last month, Washington launched a $25 billion...